PINAL EXAMINATION--Page to Accounts Receivable and a credit to allowance for Doubtful Accounte 21. To record eatimated uncollectible accounte using the allowance method, the adjusting entry would be a to Bad Debta Expense and a credit to Allowance for Doubtful c. debit to Allowance for Doubtful Accounts and a credit to Receivable Accounts d. debit to Loss on Credit sales and a credit to Accounts Receivable. lowance for Doubtful Accounts on the balance sheet a. is offeet against total current assets creases the cash realizable value of accounts receivable c. appears under the heading "other Asseta. d. is offset against accounts receivable. 22. Al 23. Two bases for estimating uncollectible accounts are a. percentage of assets and percentage of sales b. percentage of receivables and percentage of total revenue c. percentage of current assets and percentage of sales d. percentage of receivables and percentage of sales 24. The maturity value of a $30,000, 10%, 60-day note receivable dated July 3 is a. $30, 000. b. $33,000. C. $35,000. d. $30,500. 25. The maturity value of a $20,000, 12t, 3-month note receivable is a. $20, 600. b. $20,240. c. $22, 400. d. $20,200. 26. Harwe1l Company lends Newton Company $60,000 on April 1, accepting a four-month, 9 interest note. Harwell Company prepares financial statements on April 30. What adjusting entry should be made before the financial statements can be prepared? a. Note Receivable 60,000 Cash 450 450 c. Cash 450 450 d. Interest Receivable Interest Revenue . .. 1,800 1,800